HSBC Holdings Plc’s Chairman Mark Tucker is leaving Europe’s largest lender to take on a non-executive chairman role at AIA Group Ltd., marking his return to the Hong Kong-based insurer.

HSBC Holdings' high-profile Chairman Mark Tucker will return to the insurance sector as chair of Hong Kong-based AIA Group, after having presided over top management changes and navigated Sino-U.S. tensions at the Asia-focused lender.

HSBC’s longtime chair Sir Mark Tucker will step down in September to become non-executive chair of Hong Kong-based insurer AIA. Tucker, who has served as chair of the UK-headquartered bank for nearly eight years, had said last month he would retire from the board.